New York Area Factories Grew in March by Most Since June 2010
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Manufacturing in the New York region expanded in March at the fastest pace since June 2010, indicating factories are still driving the expansion.
The Federal Reserve Bank of New York’s general economic index unexpectedly increased to 20.2 this month from 19.5 in February. The median forecast in a Bloomberg News survey of economists was 17.5. Readings greater than zero signal expansion in the so-called Empire State Index, which covers New York, northern New Jersey and southern Connecticut.